Education: Ph.D., City and Regional Planning, University of North Carolina at Chapel Hill, December 1997.

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Lance Freeman Graduate School of Architecture, Planning and Preservation 400 Avery Hall 1172 Amsterdam Avenue New York, NY 10027 212-854-8495 Lf182@columbia.edu Education: Ph.D., City and Regional Planning, University of North Carolina at Chapel Hill, December 1997. Master of Regional Planning, University of North Carolina at Chapel Hill, December 1991. Bachelor of Science, Business Administration, State University of New York at Buffalo. December, 1987. Academic/Research Experience: Associate Professor, Graduate School of Architecture, Planning and Preservation, Columbia University, New York, NY. July, 2006-Present. Director, Doctoral Program in Urban Planning, Graduate School of Architecture, Planning and Preservation, Columbia University, New York, NY. July, 2004-June 2006. Assistant Professor, Graduate School of Architecture, Planning and Preservation, Columbia University, New York, NY. July, 1999-June, 2006. Assistant Professor, School of Public Policy and Urban Affairs, University of Delaware, Newark, DE. July, 1998 - June, 1999. Researcher, Mathematica Policy Research, Washington, DC, June, 1997-July, 1998. Institute Fellow, North Carolina Institute of Minority Economic Development, Raleigh, NC, August, 1995-June, 1997. Research Associate, Center for Urban and Regional Studies. Chapel Hill, NC, June, 1995 February, 1996. Professional Experience: Community Development Coordinator, North Carolina Institute of Minority Economic Development, Raleigh, NC, August, 1995-June, 1997. City Planner, New York City Housing Authority, January, 1992-August, 1993.

Books: 2006. There Goes the Hood: Views of Gentrification from Ground Up. Temple University Press. Scholarly Articles and Book Chapters: Forthcoming. African American Locational Attainment before the Civil Rights Era. City and Community. Forthcoming. Immigration, acculturation and body mass index in New York City: the roles of personal and neighborhood characteristics. International Journal of Behavioral Nutrition and Physical Activity. With Park, Y., Weiss, C., Quinn, J., Neckerman, K., Rundle, A. 2009. Neighbourhood Diversity, Metropolitan Segregation, and Gentrification: What are the links in the US? Urban Studies. 46(10): 2079 2101. 2009. Neighborhood Food Environment and Walkability Predict Obesity in New York City. Environmental Health Perspectives. 117(3): 442-447. With Rundle, Andrew, Neckerman, Katherine M. 2009. "Cost-Benefit Analysis of Using Housing Assistance to Promote Human Capital: A Conceptualization and Review of the Evidence" In David L. Weimer and Aidan R. Vining, eds., Investing in the Disadvantaged: What We Know, and What We Need to Know, about the Benefits of Social Policies. Washington, D.C.: Georgetown University Press. 2008. Personal and neighborhood socioeconomic status and indices of neighborhood walk-ability predict body mass index in New York City. Social Science and Medicine. With Andrew Rundle, Sam Field, Yoosun Park, Christopher C. Weiss, and Kathryn Neckerman. 67(12): 1951-1958 2008. Locational Attainment amongst African Americans at the close of the 20th Century. Urban Affairs Review. 44:3-26. 2008. Comment on The Eviction of Critical Perspectives from Gentrification Research. International Journal of Urban and Regional Research. 32(1). 2007. The Urban Built Environment and Obesity in New York. American Journal of Health Promotion. With Andrew Rundle, Ana V. Diez Roux, Douglas Miller, Kathryn M. Neckerman, and Christopher Weiss. 21(14):326-40. 2006. Comment on The Low Income Housing Tax Credit Goes Mainstream and Moves to the Suburbs. Housing Policy Debate 17(3):447-59. 2

Scholarly Articles and Book Chapters, continued: 2006. The Impact of Secondary Mortgage Market and GSE Purchases on Underserved Neighborhood Housing Markets: A Cleveland Case Study. Urban Affairs Review. 42 (2):193-223 With George Galster and Ronald Malega. 2006. Household Composition and Housing Assistance: Examining the Link. CityScape. 8(2):49-67. 2006. Does Housing Assistance lead to Dependency? Evidence from HUD Administrative Data. CityScape. 8(2):115-33. 2005. Black Homeownership: The Role of Temporal Changes and Residential Segregation at the End of the 20 th Century Social Science Quarterly. 86(2):403-27. 2005. Displacement or Succession? Residential Mobility in Gentrifying Neighborhoods. Urban Affairs Review. 40(4):463-91. 2004. The Changing Determinants of Inter-Racial Homeownership Disparities: New York City In The 1990's. Housing Studies. 19(3):301 323. With Darrick Hamilton. 2004. Siting Affordable Housing: Location and Neighborhood Trends of Low Income Housing Tax Credit Developments in the 1990s. Living Cities Census Series, Center on Urban and Metropolitan Studies. Washington, DC: The Brookings Institution. 2004. Gentrification and Displacement in New York City. Journal of the American Planning Association. 70(1):39-52. With Frank Braconi. 2003. The Impact of Assisted Housing Developments on Concentrated Poverty. Housing Policy Debate. 14(1/2):103-142. 2002. Does Spatial Assimilation Work for Black Immigrants in the US? Urban Studies. 39(11):1983-2002. 2002. A Dream Deferred or Realized: The Impact of Public Policy on Fostering Black Homeownership in New York City American Economic Review Papers and Proceeding. 92(2):320-324. With Darrick Hamilton. 2002. America s Affordable Housing Crisis: A Contract Unfulfilled. American Journal of Public Health. 92(5):709-712. 2002. Subsidized Housing and Neighborhood Impacts: A Theoretical Discussion and Review of the Evidence. The Journal of Planning Literature. 16(3)359-378. With Hilary Botein. 3

Scholarly Articles and Book Chapters, continued: 2001. Assisted Housing and Residential Segregation. Journal of the American Planning Association. 67(3):279-292. With William Rohe. 2001. The Effect of Sprawl on Neighborhood Social Ties: An Exploratory Analysis. Journal of the American Planning Association. 67(1):69-77. 2000. Subsidized Housing and Neighborhood Racial Transition: An Empirical Investigation. Housing Policy Debate. 11(1):67-90.With William Rohe. 2000. Minority Housing Segregation: A Test of Three Perspectives. Journal of Urban Affairs, 22(1):15-36. 1999. A Note on the Influence of African Heritage on Segregation: The Case of Dominicans. Urban Affairs Review. 35(1):137-46. 1998. Interpreting the Dynamics of Public Housing: Cultural and Rational Choice Explanations. Housing Policy Debate. 9:2:323-53. Other Publications: Forthcoming. The Impact of Subprime Borrowing on African Americans: Some Evidence from the Panel Study of Income Dynamics. Prepared for the Congressional Black Caucus Foundation. With Desiree Rideaux. 2010. Urban Planning and Health Equity. Prepared for the World Health Organization. With Mary E. Northridge. 2009. Gentrification. In Gary Hack, Eugenie Birch, Paul H. Sedway, Mitchell J. Silver (eds.) Local Planning: Contemporary Principles and Practice. Washington D.C.: International City/County Management Association 2008. A Count of Homeless Youth in New York City. Prepared for the Empire State Coalition of Homeless Youth and Family Services. 2007. Subprime Lending: An Exploratory Analysis. Prepared for the Congressional Black Caucus Foundation. 2007. The Pine Forest Revitalization Story. Prepared for the Housing Partnership of Northeast Florida. 2006. Net Benefits of Public Investments in Individuals: What Do, and Could, We Know? Prepared for the MacArthur Foundation. 2006 Black Homeownership at the Dawn of The 21 st Century: A Dream no Longer Deferred? In The State of Black America. Washington D.C.: National Urban League. 4

Other Publications, continued: 2006. U.S. Poverty Policy in the Aftermath of Hurricane Katrina. New York: Russell Sage Foundation. With Jared Bernstein, William Spriggs, Peter B. Edelman, Patricia Ruggles, Thomas M. Shapiro, and Michael Stoll. 2005. W.E.B. DuBois in Roger Caves (ed.): Encyclopedia of the City. London and New York: Routledge. 2003. A Hazard Rate Analysis of Housing Assistance Receipt. Report to the U.S. Department of Housing and Urban Development. Amended version published in Cityscape 8(2). 2003. Housing Assistance and Household Composition. Report to the U.S. Department of Housing and Urban Development. Amended version published in Cityscape 8(2). 2003. Commentary on the Impacts of New Neighborhoods on Poor Families: Evaluating the Policy Implications of the Moving to Opportunity Demonstration. Economic Policy Review. 9(2): 141-43. 2002. Gentrification and Displacement. Urban Prospect. New York: Citizens Housing and Planning Council. 2002. The Impact of Secondary Mortgage Market and GSE purchases on Underserved Neighborhoods. Report to the U.S. Department of Housing and Urban Development. Coauthored with George Galster. Amended version under review at Urban Affairs Review. 2001. The Impact of Assisted Housing Developments on Concentrated Poverty Report Prepared for the Fannie Mae Foundation. Amended portions published in Housing Policy Debate 14(1/2). 2000. Attaining Home Equity. Urban Prospect. New York: Citizens Housing and Planning Council. 2000. Fair Growth 2020: A Tale of Four Futures. Housing Facts & Findings Washington, DC: Fannie Mae Foundation. 1998. The Siting of Assisted Housing and its Impact on Neighborhood Racial Transition. Report to the U.S. Department of Housing and Urban Development. Co-authored with William Rohe. Amended portions published in Housing Policy Debate 11(1) and Journal of the American Planning Association 67(3). 5

Other Publications, continued: 1998. Assisting Unemployment Insurance Claimants: Impacts of the Job Search Assistance Demonstration. Washington: DC Mathematica Policy Research. Coauthored with Paul T. Decker and Daniel Klepinger. 1997. Is Pro-Integrative Housing Policy Justified? Critical Planning, 4. 1997. A Profile of Minority Entrepreneurs in North Carolina. Durham, North Carolina: North Carolina Institute of Minority Economic Development. 1996. Residential Segregation and the Options for a More Integrated Society. Carolina Planning. 21:2. 1996. A Study of Impediments to Fair Housing. Chapel Hill, North Carolina. Center for Urban and Regional Studies. Co-authored with Victoria Basolo, Margrit Bergholz, and William Rohe. 1995. A Study of Obstacles to Homeownership in Lexington, North Carolina. Chapel Hill, North Carolina: Center for Urban and Regional Studies. 1995. Residential Segregation in North Carolina: A Barrier to African American Opportunity. Durham, North Carolina: North Carolina Institute of Minority Economic Development. Book Reviews: 2007. Review of Jobs and Economic Development in Minority Communities. Journal of Planning and Education Research. 26:4. 2006. Review of Places of their Own: African American Suburbanization in the Twentieth Century. Journal of the American Planning Association. 72:2. 2000. Review of No Shame in My Game by Katherine S. Newman. Urban Affairs Review 35:3. 1998. Review of Poverty and Place: Ghettos, Barrios, and the American City by Paul Jargowsky. Journal of Urban Affairs 20:3. Courses Taught: Community Development Policy. Columbia University, New York, NY. Advanced Quantitative Methods. Columbia University, New York, NY. Race and Ethnicity in The City. Columbia University, New York, NY. 6

Courses Taught, continued: Measuring the Impacts of Your Neighborhood Revitalization Strategy. Neighborhood Reinvestment Institute. Strategies for Affordable Housing in High Cost Areas. Neighborhood Reinvestment Institute. Introduction to Housing Policy. Columbia University, New York, NY. Planning Theory. Columbia University, New York, NY. Planning Studio. Columbia University, New York, NY. Quantitative Techniques for Planning. Columbia University, New York, NY. Research Design for Planners. Columbia University, New York, NY. Planning Methods. School of Public Policy and Urban Affairs, University of Delaware, Newark, DE. Local Economic Development Policy. School of Public Policy and Urban Affairs, University of Delaware, Newark, DE. Statistics for Public Management Decisions. School of Public Policy and Urban Affairs, University of Delaware, Newark, DE. Public Policy Evaluation. Curriculum in Public Policy Analysis. University of North Carolina at Chapel Hill. Conference Presentations, Invited Lectures: 2009. African American Locational Attainment before the Civil Rights Era. Presented at the annual meetings of the Social Science History Association, Long Beach, CA, November 13. 2009. Panelist. A Dream Deferred? The Future of Housing Opportunities for African Americans at the Annual Legislative Conference of the Congressional Black Caucus Foundation. September 22. 2009. Race, Poverty, and Spatial Accessibility in New York City. Presented at the annual meetings of the Urban Affairs Association. March 7. 2008. Panelist, Urban Gentrification. Thomas J. Anton/Frederick Lippitt Conference, Taubman Center, Brown University. Providence, RI, October 14. 7

Conference Presentations, Invited Lectures, continued: 2008. Neighborhood Diversity, Metropolitan Segregation, and Gentrification: What are the links in the US? Presented at the annual meetings of the Association of Collegiate Schools in Planning and the Association of European Schools of Planning, Chicago, IL July 11. 2008. The Impact of Gentrification on Indigenous Residents. Department of City and Regional Planning. University of Pennsylvania, April 22. 2008. The Impact of Gentrification on Indigenous Residents. Department of City and Regional Planning. University of North Carolina at Chapel Hill, February 8. 2007. The Impact of Subprime Lending on African Americans. Congressional Black Caucus Annual Legislative Conference, Washington, D.C. September 26. 2007. Panelist, Who Owns Brooklyn? From Farms to Brownstones. Brooklyn Historical Society, Brooklyn, NY, May 31. 2007. Panelist, Who Benefits from Gentrification in Brooklyn? Brooklyn Public Library, Brooklyn, NY, April, 5. 2007. Panelist, Policy and Poverty. District Level Forum sponsored by the Congressional Black Caucus. New York, February, 23. 2006. Panelist, Development or Gentrification? New York University Robert F. Wagner Graduate School of Public Service, November 8. 2006. Panelist, What is the State of Black America? National Urban League Annual Conference. Atlanta, July 28. 2006. Panelist, Promoting Homeownership: How far can we go? Citizens Housing and Planning Council, New York, June 21. 2006. Panelist, Housing Displacement in Brooklyn. Center for the Study of Brooklyn, Brooklyn College, June 9. 2006. Panelist, Creating Positive Neighborhood Change without Displacement. Reinvesting Older Communities: People, Places and Markets. Philadelphia Federal Reserve Bank. Philadelphia, April 6. 2006. Discussant. Consequences of Racial/Ethnic Residential Segregation. Annual meeting of the Population Association of America. Los Angeles, April 1. 2006. Gentrification in Black Communities. Guest Lecturer, Lifelong Learners, Columbia University. January 27. 8

Conference Presentations, Invited Lectures, continued: 2005. Neighborhood effects in the context of gentrification. Presented to the Center on Family Demography and Public Policy, School of Social Work, Columbia University. November 26. 2005. Affordable Housing Strategies for Reducing Poverty. Presented at the Poverty, Race and Policy Roundtable sponsored by the Congressional Black Caucus Foundation. Washington, DC November 17. 2005. Does Gentrification bring Neighborhood Effects? Evidence from a Qualitative Inquiry. Presented at the annual meeting of the American Sociological Association. Philadelphia, PA August 14. 2005. Panelist on the When Gentrification comes Knocking Neighborhood Reinvestment Corporation symposium. Minneapolis, MN April 20. 2005. Deciphering Gentrification. Presented at the Preservation Development Symposium. Washington, D.C. January 25. 2004. Ghettoization and U.S. Housing Policy. Lecture to the Housing Committee of the Danish Parliament. Columbia University, October 12. 2004. Gentrification: the Double Edged Sword. Presented at the annual National Preservation Conference. Louisville, KY September 25. 2004. Gentrification Trends in African American Neighborhoods. Presented at the Annual Congressional Black Caucus Foundation Convention. Washington, D.C. September 8. 2004. There the Goes the Hood: The Meaning of Gentrification to Long-Term Residents. Presented at the annual meetings of the Urban Affairs Association. Washington, D.C. April 3. 2004. Panelist on What is Gentrification? At the second Annual Symposium on Institution Building in Harlem. City College, New York. March 20. 2004. The American Dream Deferred: Trends in African American Homeownership. Presented at the annual meetings of the Allied Social Sciences Association. San Diego, CA January 5. 2003. Displacement or Succession? Residential Mobility in Gentrifying Neighborhoods. Presented at the annual meetings of the North American Regional Science Council. Philadelphia, PA November 22. 9

Conference Presentations, Invited Lectures, continued: 2003. The American Dream Deferred: Trends in African American Homeownership. Department of Public Administration, George Washington University. March 10, 2003. 2002. Gentrification and Displacement in New York City. Colloquium on Law, Economics, Politics and Urban Affairs. Wagner School of Public Service and New York University School of Law. 2002. The Impact of Segregation on Homeownership Opportunities for African Americans. Presented at the annual meetings of the Association of Collegiate Schools in Planning, Baltimore, MD November 23. 2002. A Dream no Longer Deferred: African American Homeownership during the 1990s. Center for Urban and Regional Studies, University of North Carolina at Chapel Hill. November 18. 2002. Gentrification and Displacement: New York City during the 1990s. Presented at the Urban Issues Workshop. School of International and Public Affairs. Columbia University. New York, NY, March 12. 2002. Commentary on Moving to Opportunity Demonstration. Presented at the Policies to Promote Affordable Housing Conference sponsored by the Federal Reserve Bank of New York and New York University Law School. New York, NY, February 7. 2001. A Dream Deferred or Realized? The Impact of The Impact of Public Policy on Fostering Non-White Homeownership in New York City in the 1990s. Presented at the annual meetings of the Association of Collegiate Schools in Planning, Cleveland, OH, November 1-4. 2001. Housing Trends in New York City during the 1990s. Presented at the Annual Fannie Mae Foundation Conference, Cleveland, OH, October 31. 2001. Does the Spatial Assimilation Model Work for Blacks Immigrants in the U.S.? Presented at the annual meetings of the Urban Affairs Association, Detroit, MI, April 25-28. 2000. Immigrant Segregation: the New York Experience. Presented at the annual Fund for an Open Society conference. Philadelphia, PA. December 2. 2000. Fair Growth 2020: A Tale of Four Cities. Presented at the annual Fannie Mae Foundation Conference, Atlanta, GA, November 1. 2000. The Impact of Assisted Housing on Concentrated Poverty. Presented at the annual meetings of the Association of Collegiate Schools in Planning, Atlanta, GA, November 2-5. 10

Conference Presentations, Invited Lectures, continued: 2000. Moving Up and Moving Out of the Hood: A Test of Three Perspectives. Urban Issues Lecture Series, Institute of Architecture and Planning, Morgan State University, Baltimore, MD, March 14. 1999. The Impact of Assisted Housing on White Flight. Presented at the annual meetings of the Association of Collegiate Schools in Planning, Chicago, IL, October 21-24. 1999. Minority Proximity to Whites: A Test of Three Perspectives. Presented at the annual meetings of the American Sociological Association, Chicago, IL, August 6-10. 1998. The Siting of Assisted Housing and its Impact on Neighborhood Racial Transition. Presented at the annual meetings of the Urban Affairs Association, Fort Worth, TX, April 22-25. Media Appearances: Culture Clash in Metropolis. The Brian Leher Show, WNYC, New York City. July 28, 2008. Guest on Thinking Allowed, BBC, June 18, 2008. Guest on In the Money, CNN, November 18, 2006. Guest on Naomi s New Morning, Hallmark Channel, September 20, 2006. Guest on The Global Black Experience, WBAI, New York City. August 30, 2006. There Goes the Hood: Gentrification in New York City. News and Notes. National Public Radio. July 20, 2006. The Gentrification Debate. The Business Shrink. Sirius Radio Channel 114. March 29, 2006. Gentrification: Progress or False Promises? The Tavis Smiley Show. May 13, 2005. Gentrification: Blessing or Blight? Talk of the Nation. National Public Radio. April 25, 2005. Is Gentrification Good or Bad for San Diego? KPBS These Days. April 27, 2005. Guest on Karamu, WURD, Voices of the City, Philadelphia. April 29, 2005. Grants and Consulting: Principal Investigator. The Impact of Source of Income Anti-Discrimination Laws on Voucher Utilization and Spatial Segregation. $24,500. 11

Grants and Consulting, continued: Co-Principal Investigator. Race, Poverty, and Spatial Accessibility in New York City. National Science Foundation. $149,980. Co-Principal Investigator. Obesity, Physical Activity and Built Space in New York City. U.S. Department of Health and Human Services. $1,666,777. Principal Investigator. Equitable Development and Gentrification. July 2004-December 2004. Center for Urban Research and Policy, Columbia University. $2,500. Principal Investigator. Gentrification and the Poor. February 2003-December 2004. Institute for Social and Economic Research and Policy, Columbia University. $7,445. Principal Investigator. A Hazard Rate Analysis of Housing Assistance Receipt. July 2003-November 2003. U.S. Department of Housing and Urban Development. $12,000. Principal Investigator. Housing Assistance and Household Composition. February 2003 July 2003. U.S. Department of Housing and Urban Development. $10,000. Principal Investigator. The Siting of Federally Assisted Housing and Neighborhood Change during the 1990s. July 2002. Brookings Institution. $9,500. Co-Principal Investigator, The Impact of GSE Mortgage Purchases on Undeserved Neighborhoods. September 2001-June 2002. U.S. Department of Housing and Urban Development. $49,767. Principal Investigator, The Impact of Assisted Housing on Concentrated Poverty. April 2000 to April 2001. Fannie Mae Foundation. $25,000. Co-Principal Investigator, The Siting of Assisted Housing and its Impact on Neighborhood Racial Transition. September 1997 to August 1998. U.S. Department of Housing and Urban Development. $50,000. Honors, Awards and Fellowships Best Book in Urban Affairs. For There Goes the Hood. 2007. One of 10 Best Books in Planning. Planetizen. For There Goes the Hood. 2006. U.S. Department of Housing and Urban Development Urban Scholars Postdoctoral Fellowship. September 2001 to December 2002. $92,170. Summer Fellow. Mathematica Policy Research. June 1997 to September 1997. 12

Honors, Awards and Fellowships, continued Minority Presence Fellow. University of North Carolina at Chapel Hill. August 1994 to May 1997. Patricia Roberts Harris Fellow. University of North Carolina at Chapel Hill. August 1990 to December 1991. Professional Service: University: Faculty Senator, 2000-2002 Development Committee of the Faculty Senate, 2000-2002 Faculty Affiliate, Robert Wood Johnson Health and Society Scholars Program Faculty Fellow, Institute for Social and Economic Policy Research School/Program Acting Director, Doctoral Program in Urban Planning Faculty Search Committee Minority Recruitment Committee Curriculum Development Doctoral sub-committee in Urban Planning Joint Faculty Committee on Avery Library Postgraduate William Kinne Fellows Traveling Prize Committee External: Best Thesis Award Committee Co-organized Race, Ethnicity and the City conference held April 22, 2005, Graduate School of Architecture, Planning and Preservation, Columbia University Editorial Advisory Board Cityscape Editorial Advisory Board Housing Studies Editorial Advisory Board Journal of the American Planning Association Editorial Advisory Board Journal of Planning and Education Research Editorial Advisory Board Planning Theory and Practice Editorial Advisory Board Urban Affairs Review Referee American Journal of Public Health Referee City and Community Referee Economic Development Quarterly Referee Housing Policy Debate Referee Housing Studies Referee International Journal of Urban and Regional Research Referee Journal of Housing and the Built Environment Referee Journal of Planning Education and Research Referee Journal of Planning Literature Referee Journal of Policy Analysis and Management Referee Journal of Regional Science Referee Journal of the American Planning Association 13

Professional Service, continued: External, continued Referee Journal of Urban Affairs Referee Planning Theory and Practice Referee Real Estate Economics Referee Review of Black Political Economy Referee Social Forces Referee Social Science Quarterly Referee Social Science Research Referee Urban Affairs Review Referee Urban Studies Reviewer University of Chicago Press Reviewer University of Minnesota Press Reviewer World Conference on Transport Research Society Reviewer of proposed methodology by the U.S. General Accounting Office to evaluate the impacts of Empowerment Zone initiative, March 8, 2006 Annual Conference Selection Committee, Association of Public Policy Analysis and Management, 2005 Workshop participant, Workshop on Developing Research Methodologies That Integrate Administrative Records With Summary Statistics from the American Community Survey, September 20, 2002 The Jacob France Institute, University of Baltimore. Professional Associations Member, American Planning Association Member, National Economics Association Board Member, Urban Affairs Association Expert Witness/Consultant to Litigator New York, NY: MLB Associates Corp v. City of New York (impact of night clubs on surrounding property values), 2002 Present. New York, NY: Juana Sierra v. City of New York (impact of residence in a SRO on surrounding child development), 2008. Cleveland, OH: 84 Video/Newsstand, Inc. V. Thomas Sartini. (impact of night clubs on surrounding property values), 2005 Present. 14